Paying more rent in January

Rental Costs Increase
Paying more?

The National Statistics Institute (INE) have released figures showing you are likely to be paying more rent now compared to  the same time last year.

According to the figures the average rental cost in Spain increased by 0.8% in January, compared to the same month in 2011.

This increase is 1.2 points under the overall CPI, which was at 2% at the start of this year.

Only two regions saw rental costs come down – Navarra and Murcia – both falling by 0.4%. Andalucía saw an increase of 1.1%, slightly lower than Catalonia and Asturias who both saw an increase of 1.3%. The largest increase was seen in the Basque Country where rents increased by 1.6%.

Regarding costs for house maintenance prices rose 1.6% year-on-year, four percent less than the overall CPI, and remained stable in December 2011, El Mundo reported.